September 16, 2020 - 2:40pm
#1
I am conducting a wire transfer audit and have a question regarding if a Wire Transfer Agreement is required. There is a small vertiage on the form for the time to process the same day, fee and authorization to deduct the funds.
I believe there should be some terms of the security procedure presented to the member when the wire form is signed. A callback has been established for faxed wires.
In reading UCC 4A 202, authorized and verifed payment orders, I think I have an agruement for an Agreement to be provided.
Has anyone had this finding that can provide any recommenation.
